The issuing of new shares in a company involving the allotment of shares by the directors to particular person, submission of document to Companies Register and then the issuance of the shares to these persons after their relevant particulars is entered into the company’s register of shareholders.

Allotments of shares, other than allotments pursuant to offers to existing shareholders pro rata to their existing holdings, may only be made with the prior approval of the shareholders in general meeting. This approval may be given concerning a particular allotment or in general. In either case this shareholder approval expires (if not previously revoked by the company in any general meeting) when the next annual general meeting of the company is held or ought to be held.

Return of Allotment (Form NSC1), a statutory document disclosing the members and their shareholdings, must be filed with the Registrar within one month of the date of the allotment. Beyond this time limit, the Registrar may refuse to accept the return of allotments and an application will have to be made to the court for leave to file the expired returns.

A share may be beneficially owned by someone other than the registered holder and we can provide a nominee shareholder service. However, to enhance transparency of corporate beneficial ownership, the Companies Ordinance (Cap. 622) require a company incorporated in Hong Kong to maintain up-to-date beneficial ownership information by keeping a Significant Controllers Register. The Register should be open for inspection by law enforcement officers upon demand but not open to public.